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Dec 1, 2012
12/12
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and so very often that will mean they'll resist certain kinds of regulations, resist certain kinds of taxes, and resist certain kinds of policies that might be in the broader public interest and, therefore, there's a tension between the narrow self-interest of the few and the broader general interests of everybody else. >> host: in your book you talk about evolution quite a bit, and in fact if i'm misquoting you, let me know. but national government are knee -door in neathrandel. >> at some point, human beings and dinosaurs and modern -- national governments are a form of organization that are inconsistent with the global ear remark whereas corporations helped shape the global era, are designed to operate globally and across borders and thrive in a place where the very nature of countries having borders restricts them from projecting their influence. >> host: do you see that changing? >> guest: well, it will change at a point in history where people realize they need international institutions that are strong enough to regulate global climate or to regulate global financial markets or regul
and so very often that will mean they'll resist certain kinds of regulations, resist certain kinds of taxes, and resist certain kinds of policies that might be in the broader public interest and, therefore, there's a tension between the narrow self-interest of the few and the broader general interests of everybody else. >> host: in your book you talk about evolution quite a bit, and in fact if i'm misquoting you, let me know. but national government are knee -door in neathrandel. >>...
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Dec 3, 2012
12/12
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KPIX
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tax cuts expire and everybody's tax rates go up. and then we have a boat load of spending cuts. as part of various deals we have a big cut to defense budget, nondefense. add up it it's 4.5% of the nation's g.d.p. that jus evaporates. >> schieffer: what do you, will happen? >> i didn't believe we would get as close to the wire. i sit in exphurk and look from the mark's perspective. i think there were great hopes that we would do better than we have so far. i am worried we will go over the fiscal cliff, in part to have a reset. if we any over, republicans could start talking about cutting taxes on the middle class, as opposed to keeping them up on the rich. and the democrats will could potentially get a better deal. we can see this has happened in europe. when you have this kind of brinksmanship over and over and over again, and you go back and forth, markets start to get very burden they've been very volatile. and i think businesses have been holding back on investments. you can see big capital spending by businesses in last four mon
tax cuts expire and everybody's tax rates go up. and then we have a boat load of spending cuts. as part of various deals we have a big cut to defense budget, nondefense. add up it it's 4.5% of the nation's g.d.p. that jus evaporates. >> schieffer: what do you, will happen? >> i didn't believe we would get as close to the wire. i sit in exphurk and look from the mark's perspective. i think there were great hopes that we would do better than we have so far. i am worried we will go...
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Dec 5, 2012
12/12
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and there is no net rise in taxes today. any taxes increased are offset by taxes cut. mr. speaker, in last year's autumn statement we committed the government to maintain the same pace of consolidation for two further years beyond the end of the current spending review into 2015 and 2016-'17. in this year's autumn statement, we extend the consolidation for one further year into 2017-'18. the obr projects that as a result the share of national income spent by the state will fall from almost 48% of gdp in 2009-'10 to 39.5% by 2017-'18. the document shows total managed expenditure will continue to fall and will now be 4.6 billion lower in 2017-'18 than if it had been held flat in real terms. no decision to cut spending is ever easy, but those who object must explain whether instead they would have higher taxes or higher borrowing or both. i also provide further detail of the consolidation plans for 2015-'16, the last year of this parliament. i said two years ago that the correct balance for our fiscal consolidation between spending and tax should be 80 clash 20. i -- 80/20. i
and there is no net rise in taxes today. any taxes increased are offset by taxes cut. mr. speaker, in last year's autumn statement we committed the government to maintain the same pace of consolidation for two further years beyond the end of the current spending review into 2015 and 2016-'17. in this year's autumn statement, we extend the consolidation for one further year into 2017-'18. the obr projects that as a result the share of national income spent by the state will fall from almost 48%...
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Dec 7, 2012
12/12
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the last thing i would say, we're talking about taxes and point. tax reform is spending cuts. there is no difference. if i give you a mortgage check. no difference. you can treated as a tax or spending andfrom an economic perspective, they are one in the same thing. when we do tax reform, from an economic perspective,that is a spending cut. >> i do not have anymore questions. unless the vice chairman does. >> looking at our global competitors who find themselves in financial crisis showed more than 20 times in nine different countries, those countries cut what they owed in their spending time. they did that because their cuts were large, credible, politically difficult to reverse. believable. it created the confidence to grow an economy. it was proven over and over again. that is the model for this fiscal cliff discussion, making both the cuts and the reforms that are real and credible and politically difficult to reverse. send. it is the right signal to send to investors that we're serious about getting our financial house in order. i hope was that we do that. chairman, thank
the last thing i would say, we're talking about taxes and point. tax reform is spending cuts. there is no difference. if i give you a mortgage check. no difference. you can treated as a tax or spending andfrom an economic perspective, they are one in the same thing. when we do tax reform, from an economic perspective,that is a spending cut. >> i do not have anymore questions. unless the vice chairman does. >> looking at our global competitors who find themselves in financial crisis...
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research finds eighteen percent taxes on pizza and soda drinks people five pounds a year tracy folks help create nutrition standards at the u.s. department of agriculture those types of taxes expression if they're like you said about the twenty percent range between ten and twenty percent can have an impact and they do cause. people to purchase and consume less of the item that's being taxed for example sugar sweetened beverages or sodas shamed by films showing the secure fix of their food junk produces an l. rushing to rebrand a so-called low fat and diet well here's the secret about so-called diet food and it's actually hilarious it's called that because most diet food contains what's known as aspartame or similar name or sucralose and it's been found in numerous studies that actually diet soda products can actually lead to kidney damage metabolic problems and obesity the studies found that kidney damage was experienced in those who drink diet soda whereas those who drink regular soda which by no means is healthy did not experience the same issues the best part about it aspartame i
research finds eighteen percent taxes on pizza and soda drinks people five pounds a year tracy folks help create nutrition standards at the u.s. department of agriculture those types of taxes expression if they're like you said about the twenty percent range between ten and twenty percent can have an impact and they do cause. people to purchase and consume less of the item that's being taxed for example sugar sweetened beverages or sodas shamed by films showing the secure fix of their food junk...
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Nov 29, 2012
11/12
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FBC
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it depends on what the tax rates are. the 4% kicker or 04 percent cpi increase in the cost of living over the annuity. you have to look at that in the context of the tax opporunity. you have to be careful. gerri: they always have problems with their family. your advice which i cannot even imagine, learn to say no the families and friends. do you live alone, have no do you live alone, have no family and friends? where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's anotherson more investors are saying... [ all ] i'm with scottrade. ll, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sor about that. [ale announcer ] break from the holiday stress. fedex office. are you loing for a plan thateally meets your needs and your budget? as you probably know, medicare only covers about 80% of your part b medica
it depends on what the tax rates are. the 4% kicker or 04 percent cpi increase in the cost of living over the annuity. you have to look at that in the context of the tax opporunity. you have to be careful. gerri: they always have problems with their family. your advice which i cannot even imagine, learn to say no the families and friends. do you live alone, have no do you live alone, have no family and friends? where our dedicated support teams help you know more so your money can do more. [...
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Dec 5, 2012
12/12
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KTVU
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but swonk admits the current tax code that allows income from investment, as in mitt romney's 15% tax bill two years ago, needs fixing. "someone who's making a gazillion dollars should not get carried interest taxes. that's just wrong." the markets have been skeptical that a long-term deal will be made. equity analysts are not optimistic. "we're expecting more volatility in the first half of 2013. we expect we'll be hearing debt ceiling discussions again." for now, fiscal cliff negotiations have slowed activity. "this is where the market is frustrated by politics. it's a vicious circle." even at a meeting of start-ups, a group some consider below the radar of fiscal cliff negotiations, some entrepreneurs are becoming unusually cautious. "you have to take pause and assess what healthcare and taxes may cost, but we also have an obligation to our investors, so we see the fiscal cliff thing as a temporary roadblock but not something that...it won't stop us from hiring at this moment." one bright spot - according to analysts at mesirow, housing, expecially new housing, in many markets is b
but swonk admits the current tax code that allows income from investment, as in mitt romney's 15% tax bill two years ago, needs fixing. "someone who's making a gazillion dollars should not get carried interest taxes. that's just wrong." the markets have been skeptical that a long-term deal will be made. equity analysts are not optimistic. "we're expecting more volatility in the first half of 2013. we expect we'll be hearing debt ceiling discussions again." for now, fiscal...
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Dec 4, 2012
12/12
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KQEH
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the actions reward investors with an extra check before tax rates likely increase in 2013. late today oracle accelerated cash payments from next year's second, third, and fourth quarters. hospital operator h.c.a. satellite t.v. company dish network, and women's clothing retailer cato announced special dividends. more than 200 companies have made similar moves in the last month. suzanne pratt reports on whether special dividends are the best use of corporate cash. >> reporter: $1.7 trillion. that's the cash u.s. companies have on their balance sheets. all that hoarding is a sign of the times: nervous companies stockpiling for an economic downturn or whatever else might happen. still, n.y.u. professor april klein says companies are over doing it. >> i know they say you can never be too rich or too thin, but companies can in fact be too rich. and, sometimes you do want to shrink out the cash. >> reporter: that's because too much cash can make a company a takeover target. and, with interest rates so low, all that money is just not productive. special dividends are one option fo
the actions reward investors with an extra check before tax rates likely increase in 2013. late today oracle accelerated cash payments from next year's second, third, and fourth quarters. hospital operator h.c.a. satellite t.v. company dish network, and women's clothing retailer cato announced special dividends. more than 200 companies have made similar moves in the last month. suzanne pratt reports on whether special dividends are the best use of corporate cash. >> reporter: $1.7...
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Dec 1, 2012
12/12
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CSPAN2
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so for instance if you have a tax system like ours where speculators are taxed at a different rate than if people who work for a living or from any into a bank account in the cayman islands rather than peak united states, you have extended the rules not only to give lower taxes, tax rates to those who avail themselves of these, but distorts the economy and you wind up with more speculation. the money isn't in the cayman islands because it grows better in the sunshine. lack of sunshine, is the reason people keep their money there. >> i had a conversation with someone from the financial industry trying to make the defense about things like carried interest which isn't investment income but gets taxed, there's a lot of effort put in with cancer in return, and i couldn't help, you know what else involves a lot of munster in return? renting books. i don't get the tax break and you get the tax break. >> just to clarify the question of very interesting, when a private equity or hedge fund earns money from their customers they earn a fee, that is their income. they are allowed to defer that and
so for instance if you have a tax system like ours where speculators are taxed at a different rate than if people who work for a living or from any into a bank account in the cayman islands rather than peak united states, you have extended the rules not only to give lower taxes, tax rates to those who avail themselves of these, but distorts the economy and you wind up with more speculation. the money isn't in the cayman islands because it grows better in the sunshine. lack of sunshine, is the...
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s stock sales and mergers as sellers feared taxes on investment gains could go up next year now despite news like this and even if by efforts to promote i.p.o. bubbles the number of companies going public continues to be down significantly from highs in the one nine hundred ninety s. who why would we want this. why would we ever want to bubble party private equity advisor william janeway is here to explain why bubbles are sometimes good plus u.s. corporate profits hit a record high in the third quarter according to the bureau of economic analysis with these profits why are we seeing more business investment to fuel innovation will discuss and we hear about sovereign credit downgrade and warnings of those downgrades all the time in the wake of the debt crisis and austerity in europe but now extravagance and luxury are on the line the ratings agency moody's has reportedly put carmaker aston martin on review for a debt downgrade we'll discuss let's get to today's capital account. bubbles are often thought of as detrimental to an economy and health needless to say but what if in reality pro
s stock sales and mergers as sellers feared taxes on investment gains could go up next year now despite news like this and even if by efforts to promote i.p.o. bubbles the number of companies going public continues to be down significantly from highs in the one nine hundred ninety s. who why would we want this. why would we ever want to bubble party private equity advisor william janeway is here to explain why bubbles are sometimes good plus u.s. corporate profits hit a record high in the third...
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Dec 1, 2012
12/12
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that all of the tax. >> you mentioned the creditors. who are the creditors? especially for the united states right now. >> some are other americans who own treasury and large insurance companies and banks in america who own treasurys. the federal reserve owns a lot of treasuries, so we as taxpayers even though we are not buying them with our own money the fed is the largest by year of the treasury's right now. but the foreign central banks, banks all around the world, china is a huge creditor. we owe them over a trillion, we'll japan over a trillion. governments are holding on to this debt. you know, there is a story. i forget where it was run that mentioned from the peak of the housing double until now they said the average american household net worth was down about 40%. it's actually down a lot more than that when you factor in each share of the debt that has been accumulated in their name by the federal government. so americans are basically already broke. that's why we have to just admit that we are insolvent because the american families cannot repay th
that all of the tax. >> you mentioned the creditors. who are the creditors? especially for the united states right now. >> some are other americans who own treasury and large insurance companies and banks in america who own treasurys. the federal reserve owns a lot of treasuries, so we as taxpayers even though we are not buying them with our own money the fed is the largest by year of the treasury's right now. but the foreign central banks, banks all around the world, china is a...
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Dec 1, 2012
12/12
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CNNW
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if taxes only mean the tax, the income tax portion of tax burden for four fifths of the country, you're talking about something that doesn't matter that much. and in a democracy, you cannot be a successful party if you talk about things that don't matter that much to four fifths of the country. >> all right, your paycheck, your investment, your home, they may all be taxed a bit differently next year. that's if law makers can decide on a plan to avoid the fiscal cliff. so coming up next, i'm going to talk about a deduction that america loves, you probably love, but might be taken away. [ male announcer ] this is bob, a regular guy with an irregular heartbeat. the usual, bob? not today. [ male announcer ] bob has afib: atrial fibrillation not caused by a heart valve problem, a condition that puts him at greater risk for a stroke. [ gps ] turn left. i don't think so. [ male announcer ] for years, bob took warfarin, and made a monthly trip to the clinic to get his blood tested. but not anymore. bob's doctor recommended a different option: once-a-day xarelto®. xarelto® is the first and onl
if taxes only mean the tax, the income tax portion of tax burden for four fifths of the country, you're talking about something that doesn't matter that much. and in a democracy, you cannot be a successful party if you talk about things that don't matter that much to four fifths of the country. >> all right, your paycheck, your investment, your home, they may all be taxed a bit differently next year. that's if law makers can decide on a plan to avoid the fiscal cliff. so coming up next,...
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Dec 7, 2012
12/12
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CSPAN
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pays a lot of money in payroll taxes and sales taxes and state and local taxes and property taxes. it adds up even if they're not paying income tax. host: how would you compare the current talks to july 2011 and the debt limit, fiscal cliff, sequestration -- guest: the debt limit talks definitely set the stage for this. they were not completely without value. i get the sense it is a lot more serious now. it has almost been like a year- and-a-half long negotiation. with the real deadline being the expiration of the bush tax cuts at the end of this year. to some extent, now they're getting to the real deadline and it is more serious. host: have you written one of the, if we go over the cliff, this is what happens-type article? guest: yes. people would probably start feeling it in their paychecks pretty quickly. never mind what it means to the broader economy. it will hit. it will hurt a lot of people. if we did not change the law and it went one month, two months, three months, it could lead to another recession because there be such a sharp drop in people's incomes and it would be s
pays a lot of money in payroll taxes and sales taxes and state and local taxes and property taxes. it adds up even if they're not paying income tax. host: how would you compare the current talks to july 2011 and the debt limit, fiscal cliff, sequestration -- guest: the debt limit talks definitely set the stage for this. they were not completely without value. i get the sense it is a lot more serious now. it has almost been like a year- and-a-half long negotiation. with the real deadline being...
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Dec 4, 2012
12/12
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CNBC
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tax rates go up. >> boo. >> the payroll tax holiday goes away. unemployment benefits expire for most people and that is not even accounting for the layoffs. put it together, unless we get a deal, which won't be bad news for the single biggest consumer out there, retail. >> you would expect the whole retail cohort to be in trouble. things will get a whole lot worse. two weeks ago we got retail sales that showed a 3% decline. last friday's gdp indicated that it had decelerated to 1.4%. incomes are flat and hurricane sandy shut down the northeast for days and in some cases for weeks. even though we have had positive numbers from companies like home dep depot, the group would be flat lining. yet that hasn't been happening. it is shown by the rth, the market vectovector's retail num. it has been showing very well. that is why tonight we are going off the charts with the help of ed ponzi. my colleague at realmoney.com, we have to learn what the charts are seeing. if you remember, one of the reasons why i went back to ed. he is the guy who nailed it and
tax rates go up. >> boo. >> the payroll tax holiday goes away. unemployment benefits expire for most people and that is not even accounting for the layoffs. put it together, unless we get a deal, which won't be bad news for the single biggest consumer out there, retail. >> you would expect the whole retail cohort to be in trouble. things will get a whole lot worse. two weeks ago we got retail sales that showed a 3% decline. last friday's gdp indicated that it had decelerated...
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Nov 30, 2012
11/12
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KQED
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and moreover the threat to increase taxes in 2013, taxes on difficult dengeds would be about give or take 44%. and this year dividend would be taxed at 15. so that's a big incentive to pay difficult dejds early. and that's what we did. we paid them in 2012. >> yeah, you moved up a dividend. you would have paid in january for december. but you also added 1.14 a share in a special dividend in which will borrow money to pay. why do a special dividend on top of your regular accelerated dividend? >> we did it one, to share with our shareholders. some of the good fortune and profits that we have had over the years. we've been extremely profitable company. normally we keep money back to make acquisitions. but we thought that we could afford to pay $1.14 dividend. and it wouldn't impinge upon our ability to grow, to make acquisitions or to constrain the company in any way. heico is not a capital constrained company. some people suggested we pay more than $1.14, maybe 2 boy 50. >> was that unconsideration. >> it was under consideration because in our dividend policy we consider many different
and moreover the threat to increase taxes in 2013, taxes on difficult dengeds would be about give or take 44%. and this year dividend would be taxed at 15. so that's a big incentive to pay difficult dejds early. and that's what we did. we paid them in 2012. >> yeah, you moved up a dividend. you would have paid in january for december. but you also added 1.14 a share in a special dividend in which will borrow money to pay. why do a special dividend on top of your regular accelerated...
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Nov 29, 2012
11/12
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CNBC
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we pay taxes overseas. we pay taxes here. we pay other forms of tax as well. i think that story hasn't been told. the fiscal terms that are in place here for our industry, for example, if punitive taxes were imposed on our industry, would impact our investment. i hope that's not where we're headed. i think there is a case to be made that we pay our fair share of taxes, and i work hard to try to communicate that. >> talk to us about an energy policy. what would you like to see in the election is behind us. what should a proper energy policy look like to do everything you're saying, create jobs and, in fact, take advantage of this opportunity that america has. >> i think the energy policy sometimes is made more difficult than it needs to be. to me, there are three things th that you need focus on. do you want affordable energy, do you want secure energy, and the environmental characteristics you want. we talk about those one at a time. we need to talk about those together. >> let me ask you a few questions about from the investment community. i guess the biggest
we pay taxes overseas. we pay taxes here. we pay other forms of tax as well. i think that story hasn't been told. the fiscal terms that are in place here for our industry, for example, if punitive taxes were imposed on our industry, would impact our investment. i hope that's not where we're headed. i think there is a case to be made that we pay our fair share of taxes, and i work hard to try to communicate that. >> talk to us about an energy policy. what would you like to see in the...
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Nov 29, 2012
11/12
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KTVU
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"if congress does nothing, taxes up $2200." that $2200 morphed into a white house twitter campaign - #my2k - to encourage americans to weigh in on the debate. but ultimately, this still comes down to negotiations within, but mostly across, party lines. it's not clear how much twitter or input from small business will sway the balance one way or another. "my view is that i'm happy to be a part of that. i'm grateful for the opportunity and it's not every day that you get to spend an hour in a room with the president." ceos from wall street met with the president wednesday. morgan stanley ceo james gorman is asking his 16,000 employees to reach their members of congress. and at&t's ceo, randall stephenson, is involved with a group called "fix the debt," which is lobbying congress as well. overhaul action is happening overseas. the european commission is proposing a plan that will completely change the eurozone by creating a common budget for the 17 nations. european leaders will talk more in depth about how to keep better track of
"if congress does nothing, taxes up $2200." that $2200 morphed into a white house twitter campaign - #my2k - to encourage americans to weigh in on the debate. but ultimately, this still comes down to negotiations within, but mostly across, party lines. it's not clear how much twitter or input from small business will sway the balance one way or another. "my view is that i'm happy to be a part of that. i'm grateful for the opportunity and it's not every day that you get to spend...
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Dec 3, 2012
12/12
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CNBC
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but even then if you want to do tax cuts to stimulate the economy, why are we doing tax krets. that's been on the table forever. >> why do you think we're not? >> i honesti honestly don't kno. investment trax credits are things we have precedent for in the uk and other countries. they're business friendly. if you want to be business friendly, which most of us do, they're inherently temporary because you're trying to get people to move forward. >> it is strange when david cameron spoke last week, saying we're putting growth in every ministry, there is going to be a growth agenda. so all this talk, but not followed up. >> doesn't seem to be a company hair rent strategy at all. and i can't pretend to know what internal negotiations lead to that but a little bit of broadband hear and get off wealth incentive there is is not growth strategy. growth strategy is recognizing the uk has had an enormous shortfall of investment are and it existed even in the boom years. and has gotten worse since 2008. the financial system is a major part of it. and so you have to think about what it is t
but even then if you want to do tax cuts to stimulate the economy, why are we doing tax krets. that's been on the table forever. >> why do you think we're not? >> i honesti honestly don't kno. investment trax credits are things we have precedent for in the uk and other countries. they're business friendly. if you want to be business friendly, which most of us do, they're inherently temporary because you're trying to get people to move forward. >> it is strange when david...
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they've avoided the tobin taxes financial transaction tax they have now reconsolidate their power i don't think anything has happened in this country to stem the power of the banks in fact quite the opposite they've got away with it they've got away with one of the biggest kind of financial crimes in human history london is now one of the three command centers of the global economy that wouldn't have been possible without the city of london germany's a much more powerful economy than the british economy but they haven't got any pockets of undemocratic nepotistic rule which is untouched by the german government lord glasman morris glassman you know has long argued for for the rest of london the whole of london to be incorporated the city of london has always resisted expansion to allow the rest of london to be part of it so we right now and people living in london are actually living in the city of london you call the city of an . some corporation and undemocratic pocket within london as a whole other any of the borrowers in the u.k. that are this similar type of exception to the gen
they've avoided the tobin taxes financial transaction tax they have now reconsolidate their power i don't think anything has happened in this country to stem the power of the banks in fact quite the opposite they've got away with it they've got away with one of the biggest kind of financial crimes in human history london is now one of the three command centers of the global economy that wouldn't have been possible without the city of london germany's a much more powerful economy than the...
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Dec 6, 2012
12/12
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CNNW
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bhoener came up with a tax revenue plan. he said let's cap deductions and loop holes and leave these alone because that hopes growth. and he got nothing. nothing from boobama and i thin that started the bad blood. >> they both have to learn the art of negotiation. >> i'm going to guarantoo you that the democrats are going to be split. >> i'm going to leave it there. nick, larry, thank you very much indeed. >> coming up next. kerry kennedy talks about. anne's tablet was chatting with a tablet in sydney... a desktop in zurich... and a telepresence room in brazil. the secure cloud helped us get some numbers from my assistant's pc in new york. and before i reached the top, the board meeting became a congrats we sold the company party. wait til my wife's phone hears about this. [ cellphone vibrating ] [ female announcer ] with cisco at the center, working together has never worked so well. everything about the oral-b power brush is simply revolutionary. our unique brush head cleans in three directions with up to 50% more brush mo
bhoener came up with a tax revenue plan. he said let's cap deductions and loop holes and leave these alone because that hopes growth. and he got nothing. nothing from boobama and i thin that started the bad blood. >> they both have to learn the art of negotiation. >> i'm going to guarantoo you that the democrats are going to be split. >> i'm going to leave it there. nick, larry, thank you very much indeed. >> coming up next. kerry kennedy talks about. anne's tablet was...
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Dec 7, 2012
12/12
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FOXNEWSW
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obama says raiding taxes on upper -- raising taxes on upper income americans is not going to fix the problem that the country is facing. >> even the president got the tax rate hike he wanted understand we would continue to see trillion dollar deficits for as far as the eye can see. listen, washington has got a spending problem, not a re-knew problem. >> for many top democrats it's all about taxes and not spending cuts in averting the fiscal cliff. >> the facts are at that point the 39.6% does produce the revenue. the differentiation between 39.6% and the 28% at that the president has for limitation on deduction creates a great deal of money as well. >> one conservative financial commentator suggests the likely outcome of the fiscal cliff talks won't be the end of the world. >> we will have taxes that are the same as the taxes were under bill clinton. we did find that we will do fine. >> the question is whether the negotiations will lead to making other tough choices such as washington getting a handle on the growth of government. if not, the european example seems to suggest fiscal t
obama says raiding taxes on upper -- raising taxes on upper income americans is not going to fix the problem that the country is facing. >> even the president got the tax rate hike he wanted understand we would continue to see trillion dollar deficits for as far as the eye can see. listen, washington has got a spending problem, not a re-knew problem. >> for many top democrats it's all about taxes and not spending cuts in averting the fiscal cliff. >> the facts are at that...
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Dec 5, 2012
12/12
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CNBC
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tax rates go up. >> boo. >> the payroll tax holiday goes away. [ buzzer ] unemployment benefits expire for most people -- [ baby crying ] and that's is not even accounting for the layoffs. that's just being cautious. put it together, unless we get a deal, which won't be bad news for the single biggest consumer play out there, which is retail. so even though we're having a real good holiday shopping season that we're seeing so far. pbh told us that. you expect retail to be in trouble. once the holidays ends, things can get a whole lot worse. not just the fiscal cliff. two weeks ago aggregate retail sales that showed a 3% decline. last friday's gdp indicated that growth and personal consumption decelerated to 1.4%. these are not encouraging numbers. incomes are flat and hurricane sandy shut down the northeast wealthiest parts of the country, for days and in some cases for weeks. even though we have had positive numbers from companies like home depot and lowes, you think it would be from the proverbial -- >> the house of fame. >> or at least the group flat lining. get that? isn't happenin
tax rates go up. >> boo. >> the payroll tax holiday goes away. [ buzzer ] unemployment benefits expire for most people -- [ baby crying ] and that's is not even accounting for the layoffs. that's just being cautious. put it together, unless we get a deal, which won't be bad news for the single biggest consumer play out there, which is retail. so even though we're having a real good holiday shopping season that we're seeing so far. pbh told us that. you expect retail to be in...
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when it comes to raising taxes on the wealthy those making more than two to fifty thousand dollars if republicans do not agree to that is the administration prepared to go over the fiscal cliff oh absolutely. absolutely but when it comes to the u.s. is economic problems does this tax debate or even as fiscal cliff debate begin to scratch the surface of the crisis. former republican strategist author and historian kevin phillips is here with lessons we can learn from seventeen seventy five the subject of his latest book that many a politician may benefit from actually reading. from a long time and bald churchy i don't do it anymore of those boys much they do not read his words will. they go and the as these the is reportedly investigating going to be providing twelve billion dollars in derivatives trading losses in two thousand and eight yeah yeah there's a list of alleged bad bank behavior how is good capitalism though being driven out by bad capitalism all will break it down and word of the day plus alan greenspan says a painless solution to the u.s. debt is a fantasy finally somethi
when it comes to raising taxes on the wealthy those making more than two to fifty thousand dollars if republicans do not agree to that is the administration prepared to go over the fiscal cliff oh absolutely. absolutely but when it comes to the u.s. is economic problems does this tax debate or even as fiscal cliff debate begin to scratch the surface of the crisis. former republican strategist author and historian kevin phillips is here with lessons we can learn from seventeen seventy five the...
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there's a tax payer it comes out of the tax and bury the actual purging we're already healthy and in shape to go out and. private companies hardworking and reliable make sure want to work every day well. terribly work in prison is mandatory and the choice many inmates have is whether to work for a government run prison industry for less than a dollar an hour or a private one for a minimum wage of around six dollars a unit cory's a government owned corporation that uses prison labor to produce all kinds of goods mainly for other government agencies one hundred seventy five different types of products and services you see the variety listed on their website they to partner up with private firms now last year unicorn's revenue nine hundred million dollars the spars private prisons are concerned two of the country's biggest prison corporations made three point three billion dollars last year alone private prisons are treated in that york stock exchange they are for profit companies and the savings that they reap from using inmate labor. go to their bottom line it's money they otherwise d
there's a tax payer it comes out of the tax and bury the actual purging we're already healthy and in shape to go out and. private companies hardworking and reliable make sure want to work every day well. terribly work in prison is mandatory and the choice many inmates have is whether to work for a government run prison industry for less than a dollar an hour or a private one for a minimum wage of around six dollars a unit cory's a government owned corporation that uses prison labor to produce...
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Dec 7, 2012
12/12
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i would say, one, we need to get a better tax code, a much more pro-growth, pro-markets, pro-jobs tax code. we need to encourage economic trade with other countries. i mean really significant economic trade. one of the things i will give president obama credit for is he was able to get through the three free trade agreements that were negotiated by president bush at the end of his term and did not go through congress until president obama did that later on in his term. that's commendable. i'd like to see a lot more of that. the third would be a much more cautious dwrie regulation, the kind of regulation that actually works. more of a cost benefit analysis approach. the fourth is spending control. we jumped from 21% of gdp to 25% of gdp in spending in one year. that means we've been running a 9% deficit each year. we just can't sustain that. even if we increase taxes, if we tax the rich, what we're talking about is adding $900 billion to the debt every year instead of $1 trillion. it's not very long before you're italy under those circumstances pmplgts that's for sure. ed, good to see
i would say, one, we need to get a better tax code, a much more pro-growth, pro-markets, pro-jobs tax code. we need to encourage economic trade with other countries. i mean really significant economic trade. one of the things i will give president obama credit for is he was able to get through the three free trade agreements that were negotiated by president bush at the end of his term and did not go through congress until president obama did that later on in his term. that's commendable. i'd...
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Dec 1, 2012
12/12
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the fact of the matter is, our tax is a high tax state even though i did cut taxes. our unemployment rate never went much over 6.5%. it has been consistently much below the nation's unemployment rate the entire time. secondly, what you're seeing in wall street today is short-term behavior. bill clinton's tax rates, what we're going back to if we go down the fiscal slope, had no negative effect in the economy. in fact the economy was a whole lot better when bill clinton was president than it was under george bush or barack obama. so i think your case is good in the short term, not so good in the long term. i think the best way to restore confidence in wall street in the long term would be to show we're serious about the deficit. i don't think any deal they strike will be as serious about the deficit as this fiscal slope. >> i just think that era, you're right. the economy boomd especially in the mid 1990s and late 1990s. i don't think it did so well a couple years after bill clinton raised taxes. that's one of the reasons 1994 republicans had the biggest election they
the fact of the matter is, our tax is a high tax state even though i did cut taxes. our unemployment rate never went much over 6.5%. it has been consistently much below the nation's unemployment rate the entire time. secondly, what you're seeing in wall street today is short-term behavior. bill clinton's tax rates, what we're going back to if we go down the fiscal slope, had no negative effect in the economy. in fact the economy was a whole lot better when bill clinton was president than it was...
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principles for tax reform. it is very short. lower tax rates. the tax system should be simplified and work for all americans with lower individual and corporate tax rates and fewer brackets. now our viewers can see who said this, would you be surprised that was barack obama speaking back in 2011? >> let's replay that tape. i would like to hear that again. he is talking some sense. david: what happened, bob? he is exactly the opposite today, saying that we need higher taxes. what happened in the course of a year? >> so what you're pointing out is uncertainty. i think people and businesses can deal with tax rates different from what they are. where they can't deal is when we have no clue. uncertainty is one of the worst things for markets and that's why, as you reported a few minutes ago, companies are sitting on this massive amount of cash. they just don't know what to do. we need to give them the rules. sandra: so bob, if we can all agree that taxes in some form are going to go up in the new year what do you do with your money? are we going to a
principles for tax reform. it is very short. lower tax rates. the tax system should be simplified and work for all americans with lower individual and corporate tax rates and fewer brackets. now our viewers can see who said this, would you be surprised that was barack obama speaking back in 2011? >> let's replay that tape. i would like to hear that again. he is talking some sense. david: what happened, bob? he is exactly the opposite today, saying that we need higher taxes. what happened...
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Dec 3, 2012
12/12
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tax rates. tax rates. tax rates, tax rates. like tourettes. that is all they want. >>neil: member the middle ground they rumored about last week, maybe not 39.6 percent the top rate, but mid-30's but regardless you think the rate will change. >>guest: i am pessimistic short run and long run. there is in reason why they should go up but i think they will. we need to just limit the growth of spending to 2.5 percent a year on average and the fight is about taxes going up so that spending can go up and that is a game leapfrog. we end up with more debt and a weaker economy. the road map is greece, italy, spain, all over europe but the president thinks you can tax-and-spend your way to prosperity. >>neil: what the administration throws back on the issue is take a look at italy and greece, austerity has worked. you say what? >>guest: they have a strange definition. alwaysst either to them means higher taxes in europe and the united states austerity means less spending. i am in favor of the right definition of austerity. the balkan countries got out of the mess and now they
tax rates. tax rates. tax rates, tax rates. like tourettes. that is all they want. >>neil: member the middle ground they rumored about last week, maybe not 39.6 percent the top rate, but mid-30's but regardless you think the rate will change. >>guest: i am pessimistic short run and long run. there is in reason why they should go up but i think they will. we need to just limit the growth of spending to 2.5 percent a year on average and the fight is about taxes going up so that...
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Nov 30, 2012
11/12
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investigators are currently looking into similar incidents of alleged tax evasion at other institutions. >> there's a lot of money in going bankrupt. that is if you are the one winding up a big company that goes bust. >> a german law firm, for exple, are doing jt that r lehman brothers re in germany, and today, they've been trying manthstify their massive fees. them as well. lehman' a grn b >> risky speculation on the u.s. housin mkeas in septemberpa collse then, its assets have ben liquidated and notnl d.subsidiaries were present in more than 40 of hman's german unihas fouone othn 'ssss e figr yrs, aun 10ttne a bkrtc on eimehodotal fs ul basig mewhe,edris te lmaroerfid rak srt brk. wh wco bk, btay rtedndurreby soie tnk ftang wh us. >> welcome back. epitfreom i spadg si the long crh pteer tangohe see tay >> riot police moved in to break ahr-mohrotest against a me n ba ine mpy. tnse said truckloads of police aiv tov u demonsators. activists say almost 50eonjed >>heig t pte war of burma'sraitnowd rerm b ctics the latest police action show jt w sneeho rctns are. >> many of the injured were
investigators are currently looking into similar incidents of alleged tax evasion at other institutions. >> there's a lot of money in going bankrupt. that is if you are the one winding up a big company that goes bust. >> a german law firm, for exple, are doing jt that r lehman brothers re in germany, and today, they've been trying manthstify their massive fees. them as well. lehman' a grn b >> risky speculation on the u.s. housin mkeas in septemberpa collse then, its assets...
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Dec 6, 2012
12/12
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when it comes to higher taxes, you seem to disagree with house speaker boehner when he says raising taxes on the highest earners will hurt jobs. can you elaborate on that? >> i think what the speaker is saying quite correctly is you don't want to increase taxes on the job creators. the problem here is the 1986 act that equalized corporate and personal rates. so the most important thing is to have an internationally competitive corporate rate of 25% and a territorial tax system and then individuals who have been filing their businesses as s-corporations or pass-through corporations can incorporate and get that lower rate. they can negotiate on the individual rates. >> so you don't think the ordinary income, then, the 39.6% that we're talking about, in that case, would apply to small business. they would fall under the corporate tax rate. >> yes, exactly. people forget that until 1986, corporate and individual rates were separate. a big part of the '86 act was to equalize them. there's a big difference between 2012 and 1986. only 17% of our economy was related to trade in '86. last year in
when it comes to higher taxes, you seem to disagree with house speaker boehner when he says raising taxes on the highest earners will hurt jobs. can you elaborate on that? >> i think what the speaker is saying quite correctly is you don't want to increase taxes on the job creators. the problem here is the 1986 act that equalized corporate and personal rates. so the most important thing is to have an internationally competitive corporate rate of 25% and a territorial tax system and then...
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i mean can we solve this whole fiscal cliff by just taxing those no no unfortunately we can't we face something and this is this is what your viewers need to understand most americans haven't got this yet we're in new territory we have a sixteen trillion dollar debt. it has a potentially crushing impact people here in washington say you know that that doesn't matter what difference does it make we can borrow as much money as we like forever wrong we can't if you don't grow economically you can't attract investment truth is we're not really growing theoretically at one point two percent and falling europe is in serious trouble what happens in europe what happens in china where they're preparing for a hard landing all of these things will have an impact here we're in a lot of trouble you can't retire that debt so no you could confiscate all the wealth from the top five percent of the american people it would make a dent really it wouldn't make a try you know have your talk about running the government for six months. all right well let's talk about the new the the new fiscal year two th
i mean can we solve this whole fiscal cliff by just taxing those no no unfortunately we can't we face something and this is this is what your viewers need to understand most americans haven't got this yet we're in new territory we have a sixteen trillion dollar debt. it has a potentially crushing impact people here in washington say you know that that doesn't matter what difference does it make we can borrow as much money as we like forever wrong we can't if you don't grow economically you...
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Dec 1, 2012
12/12
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tax policy. the tax cuts that will expire at the end of this year. then, senator orrin hatch from utah gives the republican address on the fiscal cliff which refers to automatic tax increases and spending cuts that would go into effect in 2013. >> hi, everybody. i'm here on the factory floor of a business in hatfield, pennsylvania, where folks are working around the clock making toys to keep up with the christmas rush. and i came here because, back in washington, the clock is ticking on some important decisions that will have a real impact on our businesses - and on families like yours. the most pressing decision has to do with your taxes. see, at the end of the year, middle-class tax cuts are set to expire. and there are two things that can happen. first, if congress does nothing, every family will see their income taxes automatically go up at the beginning of next year. a typical middle class family of four will see their income taxes rise by $2,200. we can't let that happen. our families can't afford it, and neither can our economy. the second opt
tax policy. the tax cuts that will expire at the end of this year. then, senator orrin hatch from utah gives the republican address on the fiscal cliff which refers to automatic tax increases and spending cuts that would go into effect in 2013. >> hi, everybody. i'm here on the factory floor of a business in hatfield, pennsylvania, where folks are working around the clock making toys to keep up with the christmas rush. and i came here because, back in washington, the clock is ticking on...
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Dec 7, 2012
12/12
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i think this is all fiscal cliff and tax related selling here. i don't think it's core, that rumor that because they moved up margins -- >> what do you do? your brother says stay away. >> i think he's right. you don't add to it until the final weeks of december. >> he didn't say stay away. >> did he say buy it? >> he said own it. >> if he thinks it's going up. >> if he loves it so much, why don't you buy more here? absolutely. on november 16th the stock rallied, took a little bit off, and i still believe on a tact tactical basis that's the right move, at least for me. longer-term time frame it is generational. it looks most like a bond. it's a bond-friendly type of asset. that's why i want to own it. now, john and pete are talking about what potentially could turn it. you have to look forward into the earnings season and understand the potential for the number of iphones to be sold to hit 50 million. now, the reason that it was down 9 of 11 weeks, why did that begin? it began on the conversation of iphone five constraints. you wanted to order an
i think this is all fiscal cliff and tax related selling here. i don't think it's core, that rumor that because they moved up margins -- >> what do you do? your brother says stay away. >> i think he's right. you don't add to it until the final weeks of december. >> he didn't say stay away. >> did he say buy it? >> he said own it. >> if he thinks it's going up. >> if he loves it so much, why don't you buy more here? absolutely. on november 16th the stock...
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Nov 30, 2012
11/12
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FBC
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we see all the taxes raised. which is something he wants more government, the more money for the government, less from the private sector, more for the government. two, the military would have to drastically cut expenditures, he doesn't seem too bothered by that. he could blame republicans for anything that went wrong. do you go that far to think perhaps the president doesn't want a resolution? >> he has not given an indication it is a top priority. a top priority you would try to work with the other side and how you can work with the other side. to make demands that are this far off of where we were starting from, seems to knot be really trying to move forward on this so it does lead one to wonder what he is trying to do. we've got the real problem out there, we've got the fiscal cliff, yes, that's interesting but what is really concerning is hitting that debt ceiling which will probably happen sometime around february. we all remember what that was like in august of 2011 and this group seems to be even less wil
we see all the taxes raised. which is something he wants more government, the more money for the government, less from the private sector, more for the government. two, the military would have to drastically cut expenditures, he doesn't seem too bothered by that. he could blame republicans for anything that went wrong. do you go that far to think perhaps the president doesn't want a resolution? >> he has not given an indication it is a top priority. a top priority you would try to work...